Common use of U.S. Tax Classification Clause in Contracts

U.S. Tax Classification. Each of the Companies are classified for United States federal income tax purposes as a disregarded entity pursuant to Treas. Reg. Section 301.7701-3. Neither the Vendor nor any of the Companies will take any action to change the U.S. federal income tax classification of any of the Companies.

Appears in 2 contracts

Samples: Purchase Agreement (Teekay Tankers Ltd.), Purchase Agreement (Teekay Tankers Ltd.)

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U.S. Tax Classification. Each of the Companies are The Company is not classified for United States federal income tax purposes as a disregarded entity pursuant to Treas. Reg. Section 301.7701-3. Neither the Vendor nor any of the Companies will take any action to change the U.S. federal income tax classification of any of the Companies.

Appears in 1 contract

Samples: Purchase Agreement (Teekay Offshore Partners L.P.)

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U.S. Tax Classification. Each of the Companies are classified for United States federal income tax purposes as a disregarded entity pursuant to Treas. Reg. Section 301.7701-33 which results in the acquisition of the property and assets that constitute a business for US tax purposes. Neither the Vendor nor any of the Companies will take any action to change the U.S. federal income tax classification of any of the Companies.

Appears in 1 contract

Samples: Business Purchase Agreement (Teekay Tankers Ltd.)

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